For Immediate Release 24th September 2004
IMAGE SCAN HOLDINGS plc
Update of funding
The Company announced on 2nd September that following withdrawal of a strategic
investor the Board had opened discussions with a shareholder to provide interim
funding to allow time to conclude a long term strategic investment by the end
of the calendar year.
Discussions are progressing well and the Company believes a short term loan can
be put in place on satisfactory terms, subject to satisfactory due diligence.
In the meantime, proposals for the long term funding for the Company have
commenced with third parties and this bridging finance will give the Company
sufficient time to conclude these negotiations.
Ian Johnson, Chairman said 'Support from our shareholder base has been
encouraging and we continue to explore possible funding solutions. I have been
encouraged by the desire to ensure that this unique technology is allowed to
achieve its full market potential. We believe the offer of short term funding
may well be a good barometer for confidence in a longer term offering.
Additionally on the trading front we are in discussions with a number of
businesses over long term partnering agreements for certain of our Industrial
and Security products, which will strengthen the sales effort for our imaging
technology and solutions.'
Contact details
Image Scan Holdings 01664 503 600
Ian Johnson, Chairman
LN:1A2B25A